Private Equity Other Private Equity/Strategic Investments
Robots maker Addverb Technologies seeks $100-M
Source Addverb (opens in a new tab)Business Line (opens in a new tab)
New Delhi-based Addverb Technologies is looking to raise $100-M in a new funding round to strengthen its position as a robots manufacturer.Founded in 2016 by four former engineers from Asian Paints, Addverb provides robotics solutions for warehouse automation, electronics manufacturing, healthcare, defence, and research applications.The firm plans to use the new capital to develop products such as humanoid and quadruped robots and to build artificial intelligence systems to support these machines.
Company website ↗ (opens in a new tab)
In Mar 2021, Addverb had attracted about $41-M from Reliance Venture.For FY25, Addverb had reported about Rs.331-Cr in Operating Income and about Rs.89-Cr in Net Loss.